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Thread: Sears Bankruptcy?

  1. #51
    Senior Member
    Join Date
    Dec 2010
    beyond the pale
    Quote Originally Posted by jp1 View Post
    The founder of Panera Bread thinks the problem lies largely with Wall Street:

    "Over the last few years, however, Shaich has come to believe that the current business environment is far less amenable to the process of building companies like his. Wall Street has embraced the idea that companies exist solely to serve the holders of their stock. Under this way of thinking, managers of companies should focus their actions on driving short-term value for their shareholders, and should pay far less (or no) regard to other constituents who may have a stake in the business, such as employees, customers, or members of the community."
    I've said before that I was always amazed at how the senior leaders of the publicly-traded MegaCorp I worked for would be very nervous about whether their earnings report would satisfy Wall Street. That seemed to be their No. 1 concern, and it was repeated every 3 months because last quarter was over and only the current quarter's info was considered. The short-term focus drove all decision-making - not the engineers and scientists and other highly-educated staff.
    And with every other company forced to do the same rug dance it's no wonder the average employee has been left behind.

  2. #52
    Senior Member
    Join Date
    Jan 2011
    I think we sometimes have a tendency toward a certain level of unjustified nostalgia about the past. We want to compare the present time unfavorably to an era where we imagine politicians were honest and civil, businesses placed the public good over profit, pensions were generous and common and the news sources were objective.

    But is that really the case? I suspect our grandparents worried and complained about pretty much the same things we do.

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